Europe stocks pare losses, led by banks, miners

MADRID (MarketWatch) -- European stocks pared losses in afternoon trading on Tuesday, though markets remained extremely volatile, with wild swings marking much of the session. Encouraging some gains in Europe, futures for U.S. stock markets pointed to a rebound after Monday's heavy losses. The Stoxx Europe 600
SXXP, +0.97%
rose 0.4% to 229.80, while the French CAC 40 index
PX1, +0.60%
rose 0.7% to 3,147.91. The FTSE 100 index
UKX, +0.33%
rose 0.1% to 5,070.02, with miners such as Rio Tinto PLC
RIO, -2.14%
up 2.5% and Vedanta Resources PLC
VED, -2.31%
up 2.6%. The German DAX 30 index
DAX, +0.22%
remained under pressure, much as it has throughout the session. The index fell 1.8% to 5,818.19, dragged lower by utilities E.On AG
EOAN, +1.22%
and RWE AG
RWE, +0.53%
off over 5% each. RWE reported a 22% drop in first-half profit and lowered its 2011 forecast earlier in the day.

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